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About the Role

This role is responsible for providing risk oversight and advice to CFO teams and the LOBs on risk management issues for the London based broker dealer entity, Merrill Lynch International (MLI), while also covering BANA London and several other non-material entities across the broader EMEA region. Key responsibilities include identifying financial risks to which MLI and the other in-scope units are exposed, implementing measures to prevent and mitigate financial resource pressure, and monitoring risk outcomes. Job expectations include the ability to understand how all risk categories including credit, market, operational and compliance may create financial risk and recognize where the focus entities are susceptible to such based on its evolving business activities. The key focus area will be a hands-on approach to the effective risk management of MLI’s Capital and Liquidity resources, and also of the entity’s IRRBB profile as part of the London based EFR Team.

Responsibilities

Supporting the International and local EFR Executives in ensuring we maintain healthy and sustainable Capital, Liquidity and IRRBB risk profiles capable of supporting business plans through a business-as-usual environment and during times of stress.
Complying with regulations relevant to EFR’s coverage area. Review and challenge implementation of new and changed rule requirements such as Fundamental Review of the Trading Book and Basel 3.1. Supporting and participating in interactions with relevant regulators on related topics.
Participate in establishing and maintaining risk management procedures and standards.
Conduct execution of risk framework activities including maintenance of controls and risk management processes for Treasury and the LOBs, as well as review and challenge of front-line deliverables and contribution of risk elements to such as needed (i.e. regulatory interpretations, ICAAP/ILAAP, recovery plans, risk ID, issue remediation plans and actions, new product reviews, LE capital action requests, model implementation and change, etc).
Ensuring modelling pertaining to financial risks are applicable to and reflective of the various unit’s risk profiles.
Liaising with businesses to understand market trends and impacts on portfolio, using knowledge of stress testing and its applicability to risk categories.
Ensuring adherence to the policies and procedures established by the Company.
Managing risk requests, breach remediation's and providing effective challenge of front line units.
Developing risk management analyses, reports, and approval procedures and guidelines on risk limits by type of product and/or transaction.
Assist with broader EFR initiatives as needed.

Requirements

Demonstrable experience in coverage areas relevant to EFR – liquidity risk, capital & interest rate risk in the banking book, ideally in a comparative organisation in terms of size and complexity.
Communicates in a clear, concise, organized, and convincing manner for the intended audience demonstrating strong analytical skills and an ability to effectively tailor messaging to the audience.
Proficiency with PowerPoint and Excel.
Strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes.
Ability to develop networks and build alliances; collaborates across boundaries to build relationships and achieve common goals.
Influencing and negotiating across external stakeholders (regulators) as well as internal groups including LE CRO, LOB Risk, CFO organisation particularly Corporate Treasury, Recovery & Resolution Planning, Audit & Compliance to drive execution.
Ability to ensure that we are providing appropriate monitoring and analysis to allow us to provide high quality risk insights.

Skills

Liquidity risk
Capital risk
Interest rate risk in the banking book
PowerPoint
Excel
Risk management
Stress testing
Negotiation

Location

London

Work Type

Full-time

Experience Level

Director

Benefits

Private healthcare for you and your family plus an annual health screen
Competitive pension plan
Life assurance
Group income protection cover
20 days of back-up childcare including access to school holiday clubs
20 days of back-up adult care per annum
Wellbeing account
Travel insurance
Critical illness cover
Emotional wellbeing helpline
Mental health first aiders
Virtual GP services
Employee Assistance Program
Charitable giving through payroll with bank match
Arts & Culture corporate membership program
Discounted entry to cultural institutions and exhibitions
Volunteering opportunities

About the Company

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities, and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Good conduct and sound judgment is crucial to our long-term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

Equal Opportunity

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.